Alphabet Shares Drop on Cloud Cash Burn
Alphabet reported a higher cash burn than expected due to heavy cloud spending, sending shares down in extended trading. Google Cloud revenue doubled in the third quarter as enterprise AI demand remained strong.
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ALPHABET INC-CL A reported negative free cash flow of $9.07 billion during the third quarter, missing estimates as heavy cloud spending drove a wider cash burn. The figures outpaced the $36 million cash burn expected by analysts polled by LSEG. Shares fell 6.3% in extended trading following the report on Wednesday evening.
